Trade Desk’s (TTD) Buy Rating Reiterated at Needham & Company LLC

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $145.00 target price on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 18.63% from the stock’s current price.

Several other research firms also recently weighed in on TTD. Wedbush raised their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. KeyCorp upped their target price on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group lifted their price target on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets increased their price objective on Trade Desk from $125.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada raised their target price on Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $132.10.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $122.23 on Thursday. The business has a 50-day simple moving average of $123.20 and a 200 day simple moving average of $115.54. Trade Desk has a one year low of $71.11 and a one year high of $141.53. The firm has a market capitalization of $60.33 billion, a price-to-earnings ratio of 200.38, a PEG ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. On average, sell-side analysts expect that Trade Desk will post 0.87 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Focus Financial Network Inc. lifted its holdings in shares of Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after buying an additional 84 shares in the last quarter. CAP Partners LLC increased its holdings in Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after acquiring an additional 86 shares during the period. RMR Wealth Builders lifted its stake in Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its holdings in Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after purchasing an additional 94 shares during the period. Finally, TFB Advisors LLC grew its position in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.